Daily News: August 10, 2017

FastPay, Tennenbaum Structure $80MM Credit Facility for Videology

FastPay, a financial technology company that provides lending and payment solutions to digital businesses, and Tennenbaum Capital Partners closed an $80 million international credit facility for Videology, a global converged TV and video software provider with offices across the U.S., Europe, Canada, Asia and Australia.

“We at FastPay, are excited to partner with Videology,” said Jed Simon, CEO and founder. “I’ve admired Scott Ferber for years. The team at Videology is highly innovative and uniquely positioned to solve the industry’s marketing challenges through its powerful unified software solution.”

Videology, founded in 2007, was one of the first technology companies to bring reservation-based video advertising software to the marketplace.

The partnership illustrates FastPay’s distinct ability to understand the financial needs of digital businesses in rapid growth sectors.

The collaboration allowed Videology to leverage FastPay’s expertise in financing ad-tech businesses, including its advanced proprietary loan servicing platform, and Tennenbaum’s experience in providing flexible structured capital solutions to high-growth companies in technology and media.